Zilliqa / BitcoinShort
Zil May 7: 1560! Almost nailed 1600 target! CORRECTION TIME!
Zil hit 1560 sats which was only 40 sats shy of our previous target of 1600 sats (See my April 22 TA)
I do believe we have completed Wave 5 already and if so, the above chart shows the possible scenario:
Retracement target of roughly 1042-1132 (38.2%) could coincide with trend line support (in green).
Wave 5 ending diagonal/rising wedge with a "throw over" at 1560 sats.
Possible HNS pattern forming:
Indicators:
RSI has been bearishly diverging despite the increase in price. This shows weakening momentum and also the bearish flag .
Bearish divergence on the MACD and crossing over.
I do believe we have completed Wave 5 already and if so, the above chart shows the possible scenario:
Retracement target of roughly 1042-1132 (38.2%) could coincide with trend line support (in green).
Wave 5 ending diagonal/rising wedge with a "throw over" at 1560 sats.
Possible HNS pattern forming:
Indicators:
RSI has been bearishly diverging despite the increase in price. This shows weakening momentum and also the bearish flag .
Bearish divergence on the MACD and crossing over.
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